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Yes this does allow AVCHD editing. This is the "plus" version which edits HD and AVCHD, has a second video track for overlay's and effects, and probably gives more real "bang for the buck" than a lot of other NLE's, it being quite fully featured.
For AVCHD 1920x1080 17Mbps video editing a quad core running at 2.66Ghz as a bare minimum is required.
I have the Ultimate version but have not installed the Ultimate plug ins so essentially I am running the "plus" version offered in this sale.
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